Taking a look at what insiders are doing to gauge the Synopsys Inc. (SNPS)’s direction

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Synopsys Inc. shares valued at $3,233,356 were sold by VALLEE ROY on Aug 23. At $359.26 per share, VALLEE ROY sold 9,000 shares. The insider’s holdings dropped to 1,802 shares worth approximately $0.55 million following the completion of this transaction.

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Also, JOHNSON MERCEDES sold 2,000 shares, netting a total of over 720,000 in proceeds. Following the sale of shares at $360.00 each, the insider now holds 5,346 shares.

Before that, RUNKEL JOHN F JR had sold 3,464 shares from its account. In a trade valued at $1,266,050, the GC & Corporate Secretary traded Synopsys Inc. shares for $365.49 each. Upon closing the transaction, the insider’s holdings decreased to 3,464 shares, worth approximately $6.94 million.

As published in their initiating research note from Stifel on September 08, 2022, Synopsys Inc. [SNPS] has been a Buy and the price target has been revised to $445. This represents a 31.02% premium over Thursday’s closing price. Analysts at Wolfe Research started covering the stock with ‘”an Outperform”‘ outlook in a report released in mid August. As of June 29, 2022, BofA Securities has increased its “an Underperform” rating to a “Neutral” for SNPS. Earlier on January 10, 2022, BofA Securities resumed its rating. Their recommendation was “an Underperform” for SNPS stock.

Analyzing SNPS’s Price Performance

On Thursday, Synopsys Inc. [NASDAQ: SNPS] plunged -1.96% to $306.97. The stock’s lowest price that day was $306.31, but it reached a high of $312.71 in the same session. During the last five days, there has been a drop of approximately -2.84%. Over the course of the year, Synopsys Inc. shares have dropped approximately -16.70%. Shares of the company reached a 52-week high of $391.17 on 08/15/22 and a 52-week low of $255.02 on 05/12/22. A 50-day SMA is recorded $347.07, while a 200-day SMA reached $321.94. Nevertheless, trading volume fell to 1.1 million shares from 1.42 million shares the previous day.

Support And Resistance Levels for Synopsys Inc. (SNPS)

According to the 24-hour chart, there is a support level at 304.62, which, if violated, would cause prices to drop to 302.26. In the upper region, resistance lies at 311.02. The next price resistance is at 315.06. RSI (Relative Strength Index) is 27.25 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -11.72, which suggests the price will decrease in the coming days. Percent R is at 98.17%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is Synopsys Inc. subject to short interest?

Stocks of Synopsys Inc. saw a sharp steep in short interest on Jul 14, 2022 dropping by -0.15 million shares to 1.66 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 1.81 million shares. A decline of -9.04% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 1.81 of the overall float, the days-to-cover ratio (short ratio) decline to 1.81.

Which companies own the most shares of Synopsys Inc. (SNPS)?

According to The Vanguard Group, Inc. filings, the company currently owns 16,892,560 shares, which is about 11.05% of the total SNPS shares outstanding. The investor’s shares have appreciated by 152,903 from its previous 13-F filing of 16739657.0 shares. With the completion of the sale transaction, T. Rowe Price Associates, Inc.’s stake is now worth $3,824,702,658. BlackRock Fund Advisors reduced a -1.89% interest valued at $2.78 billion while SSgA Funds Management, Inc. sold a -204,590 stake. A total of 161,405 shares of Synopsys Inc. were sold by JPMorgan Investment Management, I during the quarter, and 9,941 were bought by Franklin Advisers, Inc.. In its current portfolio, Geode Capital Management LLC holds 3,052,093 shares valued at $1.06 billion.


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